The document explains polymorphism in Java, a fundamental concept in object-oriented programming that allows objects to take multiple forms, illustrated through real-life examples like a woman fulfilling different roles and animals making distinct sounds. It describes two main types of polymorphism: compile-time (method overloading) and runtime (method overriding), with corresponding examples demonstrating how methods can be defined and invoked based on different parameters or object types. The document emphasizes how polymorphism enhances code flexibility and reusability by allowing multiple methods with the same name in a single class.